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[General] Pass Guaranteed ACAMS - CAMS-FCI–Reliable New Exam Review

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【General】 Pass Guaranteed ACAMS - CAMS-FCI–Reliable New Exam Review

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ACAMS CAMS-FCI Exam Syllabus Topics:
TopicDetails
Topic 1
  • Reporting Suspicious Activity: This section of the exam is designed for Financial Crime and compliance reporting officers and includes a four-hour online certificate course focusing on the intricacies of reporting suspicious activity.
Topic 2
  • Financial Crime Typologies Intermediate: This domain is targeted at experienced financial crime analysts and encompasses a four-hour online certificate course that explores various financial crime typologies at an intermediate level. The section covers emerging trends in money laundering, terrorist financing, and other financial crimes.
Topic 3
  • Leading Complex Investigations: This section of the exam measures the skills of senior financial crime investigators and covers advanced techniques for managing and directing intricate financial crime investigations. The four-hour online certificate course delves into strategies for coordinating multi-faceted cases, managing resources effectively, and navigating the complexities of cross-border investigations.
Topic 4
  • Governance of an AFC Investigations Unit: This domain is aimed at compliance professionals who assess candidates' understanding of the governance structures necessary for an effective Anti-Financial Crime (AFC) investigations unit.

ACAMS Advanced CAMS-Financial Crimes Investigations Sample Questions (Q70-Q75):NEW QUESTION # 70
Which is a key characteristic of the Financial Action Task Force (FATF) Regional Style Bodies for combatting money laundering/terrorist financing?
  • A. Enabling FATF standards to be specific to each region
  • B. Emphasizing regional co-operation between member countries
  • C. Implementing regional mutual evaluation procedures
  • D. Instructing each member country to place FATF recommendations into law
Answer: C
Explanation:
Explanation
According to the CAMS study guide, the Financial Action Task Force (FATF) Regional Style Bodies are organizations created by the FATF to promote the implementation of anti-money laundering and countering the financing of terrorism (AML/CFT) measures in specific regions. One of the key characteristics of these bodies is the implementation of regional mutual evaluation procedures.
Regional mutual evaluations involve member countries evaluating each other's AML/CFT regimes to identify strengths and weaknesses and to develop best practices for improvement. This process allows for greater cooperation between countries and can help to identify and address regional AML/CFT risks more effectively.
It also promotes consistency in AML/CFT standards and practices within the region.

NEW QUESTION # 71
A client at a financial institution deposits large amounts of money into an account, and almost immediately, the funds are then distributed to numerous individuals' accounts. The transaction activity described in the scenario is a pattern of:
  • A. geographic usage.
  • B. safe deposit custody.
  • C. deposit trading.
  • D. account usage.
Answer: C
Explanation:
Explanation
Deposit trading is a pattern of suspicious activity where a client deposits large amounts of money into an account, and then transfers the funds to other accounts, often in different jurisdictions or countries. This could be an attempt to disguise the source or destination of the funds, or to avoid reporting requirements. Deposit trading is also known as layering, which is the second stage of money laundering.
References: ACAMS Advanced Financial Crimes Investigations Certification Study Guide, page 43; ACAMS Glossary, page 34.

NEW QUESTION # 72
A client with many personal and business deposits with the financial institution (Fl) seeks a business loan. The client wants to guarantee the loan with a trust for which they are the beneficiary.
An investigator examines the trust. The trust has many layers, including shell companies in known tax havens.
The client's ultimate beneficial ownership claim cannot be validated, and the loan is denied.
Two months later, the Fl receives a law enforcement (LE) request on one of the client's business accounts.
While reviewing the business account, the Fl receives another LE request on the same account from another agency. The requested information is shared.
Three months later, a branch manager receives a request to open a business deposit account related to a complex trust. The manager forwarded the request because of the complexity. The trust was the same as the previously examined trust, but the request came from a different client. The second client also has many accounts with the Fl. Further inspection finds links between the second client and the Paradise Papers. The Papers state the client led illegal activities and committed tax evasion.
What steps should the investigator perform in reference to the first client's existing accounts? (Select Three.)
  • A. Perform secondary scans of the client's other owners/authorized signers
  • B. Review Fl approved policies regarding the existing accounts to ensure regulatory requirements were followed.
  • C. File SARs/STRs for all accounts at the beginning of the discovery phase and amend later as necessary.
  • D. Review all client-signed documents relating to all accounts.
  • E. Inform Fl management of all processes used to investigate the client due to LE inquiry.
  • F. Prepare a relationship flow chart of all existing accounts to better understand the client's activities.
Answer: A,D,F
Explanation:
Explanation
The investigator should review all client-signed documents relating to all accounts (A) to check for any discrepancies or red flags. The investigator should also perform secondary scans of the client's other owners/authorized signers (D) to identify any possible connections or associations with the second client or the Paradise Papers. Additionally, the investigator should prepare a relationship flow chart of all existing accounts (F) to better understand the client's activities and patterns. These steps are consistent with the ACAMS Advanced Financial Crimes Investigations Certification Study Guide1, which states that investigators should
"review all relevant documentation, including account opening documents, transaction records, and customer correspondence" (p. 23), "conduct enhanced due diligence on all parties involved in the investigation" (p. 24), and "use data visualization tools to map out complex relationships and transactions" (p. 25).
References: 1: ACAMS Advanced Financial Crimes Investigations Certification Study Guide, available at ACAMS

NEW QUESTION # 73
Which action is part of the enhanced due diligence process?
  • A. Collecting beneficial ownership details regarding the client's account
  • B. Verifying the source of wealth for entities and natural person clients
  • C. Using standard monitoring procedures to monitor transactions and account activity
  • D. Applying higher ownership percentage requirement for beneficial ownership collection
Answer: A
Explanation:
Explanation
One of the actions that is part of the enhanced due diligence process is collecting beneficial ownership details regarding the client's account. This is important to identify the natural persons who ultimately own or control the client, and to assess the potential risks associated with them. According to the Financial Action Task Force (FATF), beneficial ownership information should include1:
The name, nationality, and country of residence of each beneficial owner.
The date of birth or incorporation of each beneficial owner.
The nature and extent of the beneficial interest held by each beneficial owner.
The means by which the beneficial ownership or control is exercised.
References:
FATF Guidance on Transparency and Beneficial Ownership

NEW QUESTION # 74
An investigator receives an alert documenting a series of transactions. A limited liability corporation (LLC) wired 59.000.000 USD to an overseas account associated with a state-run oil company. A second account associated with the state-run oil company wired 600,000,000 USD to the LLC. The LLC then wired money to other accounts, a money brokerage firm, and real estate purchases.
The investigator initiated an enhanced KYC investigation on the LLC. The financial institution opened the LLC account a couple weeks prior to the series of transactions. The names associated with the LLC had changed multiple times since the account opened. A search of those names revealed relations with multiple LLCs. Public records about the LLCs did not show any identifiable business activities.
Open-source research identified mixed reports about the brokerage firm. The firm indicated it purchased mutual funds for its clients and dispensed returns to clients. Media reports claimed the firm laundered money by holding money for a fee before returning it to investors.
What is the total suspicious transaction amount that the investigator should report?
  • A. 541.000,000 USD
  • B. 600,000,000 USD
  • C. 59,000,000 USD
  • D. 659,000,000 USD
Answer: D
Explanation:
Explanation
The total suspicious transaction amount that the investigator should report is 659,000,000 USD. This is the sum of the two transactions involving the LLC and the state-run oil company, which are 59,000,000 USD and
600,000,000 USD respectively. The other transactions that the LLC made to other accounts, a money brokerage firm, and real estate purchases are not relevant to the question, as they are not part of the series of transactions that triggered the alert.
References: Advanced CAMS-FCI Certification | ACAMS

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